The biggest lure of forex trading, it seems, are the monetary rewards.
'The starting pay of a trader is around $2,500, and that is just the basic pay. On top of that, you get a dealing allowance of around $500 and are entitled to profit sharing, which is normally about 5 per cent of the profit that you make above the budget given,' explains the forex trader.
'The starting pay of a trader is around $2,500, and that is just the basic pay. On top of that, you get a dealing allowance of around $500 and are entitled to profit sharing, which is normally about 5 per cent of the profit that you make above the budget given,' explains the forex trader.
He adds that a senior trader with about eight years of experience, on the other hand, can earn up to $200,000 a year, while star traders can easily reap more than $500,000.
However, the career life span of forex traders tends to be shorter than other banking positions, says Ms Kuek.
'The trading floor is a highly stressful environment, mostly for long periods at a stretch, causing higher burnout rates.'
She adds that traders also have to be prepared to work long hours which span the Asian, European, and sometimes part of the US time zones.
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